The US Dollar has declined by 284 pips or 3.00% against the Swiss Franc since July 16. The 200– period simple moving average pressured the currency pair lower during this period.
Given that the 50-, 100– and 200– period SMAs are currently trading above the price level, bearish traders could continue to pressure the exchange rate lower during this week’s trading sessions.
However, the weekly support level at 0.9134 could provide support for the currency exchange rate in the shorter term.
